Charles R. Schwab Sells 89,275 Shares of The Charles Schwab Co. (NYSE:SCHW) Stock

The Charles Schwab Co. (NYSE:SCHW) Chairman Charles R. Schwab sold 89,275 shares of the business’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $74.62, for a total transaction of $6,661,700.50. Following the sale, the chairman now directly owns 30,641,981 shares in the company, valued at approximately $2,286,504,622.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $74.99 on Friday. The firm’s 50-day moving average price is $69.68 and its 200-day moving average price is $63.84. The Charles Schwab Co. has a 1-year low of $45.65 and a 1-year high of $75.55. The firm has a market capitalization of $133.19 billion, a P/E ratio of 31.38, a P/E/G ratio of 1.10 and a beta of 1.01. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.82.

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.00 annualized dividend and a dividend yield of 1.33%. Charles Schwab’s dividend payout ratio is currently 41.84%.

Analysts Set New Price Targets

SCHW has been the topic of a number of research reports. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $71.00 target price (up previously from $70.00) on shares of Charles Schwab in a research note on Wednesday, January 3rd. Piper Sandler boosted their target price on shares of Charles Schwab from $75.00 to $78.00 and gave the stock an “overweight” rating in a research note on Friday, April 12th. Morgan Stanley lifted their price target on shares of Charles Schwab from $65.00 to $71.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Bank of America lifted their price target on shares of Charles Schwab from $68.00 to $70.00 and gave the stock an “underperform” rating in a report on Tuesday, April 16th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Charles Schwab from $75.00 to $77.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Charles Schwab presently has an average rating of “Hold” and an average price target of $74.47.

Institutional Investors Weigh In On Charles Schwab

Several hedge funds and other institutional investors have recently made changes to their positions in SCHW. Capital Investment Advisors LLC increased its position in shares of Charles Schwab by 5.1% during the third quarter. Capital Investment Advisors LLC now owns 5,239 shares of the financial services provider’s stock worth $288,000 after acquiring an additional 256 shares in the last quarter. Cedar Brook Financial Partners LLC increased its position in shares of Charles Schwab by 10.8% during the third quarter. Cedar Brook Financial Partners LLC now owns 4,128 shares of the financial services provider’s stock worth $227,000 after acquiring an additional 403 shares in the last quarter. GHP Investment Advisors Inc. increased its position in shares of Charles Schwab by 0.6% during the third quarter. GHP Investment Advisors Inc. now owns 61,627 shares of the financial services provider’s stock worth $3,163,000 after acquiring an additional 350 shares in the last quarter. Meridian Wealth Management LLC increased its position in shares of Charles Schwab by 109.3% during the third quarter. Meridian Wealth Management LLC now owns 13,470 shares of the financial services provider’s stock worth $739,000 after acquiring an additional 7,034 shares in the last quarter. Finally, Riverview Trust Co increased its position in shares of Charles Schwab by 173.1% during the third quarter. Riverview Trust Co now owns 1,931 shares of the financial services provider’s stock worth $106,000 after acquiring an additional 1,224 shares in the last quarter. 84.38% of the stock is owned by institutional investors.

Charles Schwab Company Profile

The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.